If your company services vehicles, you face many business risks. Service centers are busy places where it’s easy for employees to suffer injuries, so you need to protect them financially from the resulting medical bills. If you damage a customer’s vehicle, they can sue you, and a court can find you liable for the cost of repairs.

Working as a financial advisor or operating a financial services firm comes with several risks, from liability over the services you provide to incidents like slip-and-fall accidents when clients visit your office. The cost of lawsuits in these and other scenarios can be high, including court-awarded damages and legal defense expenses.

If anyone understands risk, it’s insurance agents. Even as you help customers choose and purchase insurance policies, you’re facing your own business risks.

If you’re a creative agency owner or key decision-maker, you’ve got to ensure that your company is protected financially from the many types of business risks you face. There are several steps you should take, but perhaps the most important is obtaining insurance.

General liability insurance is coverage that protects your business from the costs of lawsuits filed against it by customers, clients, and other third parties. Because it’s common for companies to be sued, every business should learn about general liability insurance and consider purchasing a policy.

If you own properties (other than your primary residence) that you rent out to residents or occupants, that business, like all businesses, comes with risks. Consequently, having insurance for landlords is essential.

One of the most important types of insurance a small business can have is workers’ compensation (also called workers’ comp or workman’s comp). That’s because workers’ comp covers medical bills and lost wages for employees who are hurt in on-the-job accidents—and incidents can and do occur in any type of setting in every industry. Workers’ comp coverage benefits the employee, of course, but also the company since assisting employees with their healthcare expenses builds goodwill and helps the employee return to work sooner.

If you own a restaurant, it’s crucial to have restaurant business insurance. That’s a term encompassing multiple policies, each designed to cover a particular type of risk.

Workers’ compensation insurance is designed to cover medical costs and lost wages for employees who are injured or become ill on the job. If an employee dies as a result of a work injury, a workers’ compensation policy can pay a death benefit to their family.